| Panel: |
Panel Discussion 2: Regulation, Institutions, and Governance |
| Title: |
Paper 2: Policy Reforms and Institutional Weaknesses: Closing the Gap |
| JEL Code(s): |
O1 |
| Abstract: |
After WWII, the Philippines seemed to hold the greatest potential in Southeast Asia to break from the ranks of poor, developing countries. But this potential has remained unrealized to date. What ails the Philippines? The answer may lie in the way the country governs itself and the weaknesses of its institutions. Adding to the debate on the importance of effective institutional and regulatory frameworks in orchestrating the development process in a developing economy and on the need to create competent institutions, this paper discusses the gaps in Philippine policy development process brought about by institutional weaknesses and examines the strategic triggers for reform. Notwithstanding the weaknesses of Philippine institutions, the institutional context is surprisingly strong in some “fundamentals” such as the presence of independent constitutional bodies, civil society watchdogs, and a vigilant research community. These institutions can help provide a stable environment for furthering meaningful policy changes in the country.
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| Discussants: |
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